Y H & C Investments

Concentrated GARP



  • Additional attributes Small cap
  • Strategy Stocks
GARP stands for Growth at a Reasonable Price. My growth-oriented investment style focuses on fundamental analysis including cash ratios, liquidity ratios and margins. I will also invest in anticipation of potential mergers, spin-offs and perceived arbitrage opportunities.
My main focus is on buying growth-oriented businesses led by what I believe are strong management teams. I attempt to buy growth companies, as well as ones with cash-rich balance sheets. The companies I own also tend to have strategic competitive advantages and high barriers to entry within large target markets. At times I may target potential spin-offs and arbitrage opportunities as well.
My screening approach analyzes cash, cash relative to debt, assets relative to liabilities, liquidity and cash flow. Typical sources of data and company information include Barron’s, Yahoo! Finance, MSN Screener, local news, Seeking Alpha, Investopedia, BusinessWeek and Bloomberg.
Positions usually range from 5% to 20% of the portfolio. I typically will seek to sell positions for which I have a larger allocation.
I make decisions to close positions based on the performance, or lack thereof, of the company. If an abnormally large gain is achieved in a short period, the position may be sold. If a stock is grossly overvalued, it will also be sold.
My strategy may change if I believe that stocks are highly overvalued, or due to merger activity, regulatory issues, world events or potential arbitrage opportunities.

Portfolio Manager performance

-2.5%

Month to date

MTD

-0.7%

Quarter to date

QTD

3.0%

Year to date

YTD

Quarterly vs S&P500

Quarterly vs S&P500

Risk score

  • 19.7%

    Best quarter

  • -29.8%

    Worst quarter

    • 1.5% fee
    • $10,000 min

Portfolio Manager performance graph

All performance information on this page is based on the performance of the Portfolio Manager’s account. Client performance may differ. Client account performance is displayed on the client dashboard.

Performance Portfolio inception January 20, 2010

as of May 23, 2017 Manager (net of fees ) S&P 500
Month-to-date -2.5% 0.6%
Quarter-to-date -0.7% 1.5%
Last 365 Days 14.1% 17.1%
Since inception (Annualized) 0.0% 10.7%
2017 (YTD) 3.0% 7.1%
2016 4.7% 9.5%
2015 -18.1% -0.7%
2014 -12.0% 11.4%
2013 39.4% 29.6%
2012 40.2% 13.4%
2011 -34.1% -0.0%

Risk metrics Last 365 days

as of May 23, 2017 Manager (net of fees ) S&P 500
Volatility 15.1% 9.7%
Sharpe Ratio 0.87 1.67
Sortino Ratio 1.37 2.10
Maximum Drawdown -11.6% -5.6%
Value-at-risk (95%, 1 week) -3.5% -2.3%
vs. S&P 500
Information Ratio -0.26
Alpha -2.0%
Beta 1.01
R-Squared 0.42

Exposure

38.4%
36.4%
20.2%
4.6%
  • Consumer, Non-cyclical
  • Communications
  • Financial
  • Consumer, Cyclical

Top 5 securities

37.8%
20.2%
14.4%
12.4%
9.5%
View all

Portfolio commentary

  1. Profile Picture Time of chaos May 22, 2017

    Earnings are up, but political dramas weigh on investors

  2. Profile Picture Behind the retail selloff May 16, 2017
  3. Profile Picture Sizing up investments May 02, 2017
  4. Profile Picture Belichick on reliability April 26, 2017
  5. Profile Picture Beware trendy stocks April 18, 2017
Show more

Latest transactions Average trades per month 0.4

Executed Symbol Security Type Price
December 21, 2016 LILA Liberty Global Plc LiLAC Buy $21.87
December 20, 2016 GPRO GoPro Inc Sell $8.92
July 29, 2016 GPRO GoPro Inc Buy $12.74
December 15, 2015 H Hyatt Hotels Corp Buy $47.07
December 15, 2015 VIV Telefonica Brasil SA Buy $9.57
December 03, 2015 GPRO GoPro Inc Buy $19.82
November 19, 2015 DLB Dolby Laboratories Inc Sell $34.83
November 19, 2015 DGI DigitalGlobe Inc Sell $16.78
View all

Manager's other portfolios

Y H & C Investments - Long Term GARP Long Term GARP

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Important Information

  1. Past performance is no guarantee of future results, and all investments, including those in this portfolio, involve the risk of loss, including loss of principal and a reduction in earnings.  
  2. All performance information on this page is based on the performance of the Portfolio Manager’s account, using the manager’s own funds. Portfolio Manager’s pre-Covestor performance information may include performance of non-Covestor client accounts. Performance of the Portfolio Manager's account is calculated by Covestor on a daily time-weighted basis, including cash, dividends and earnings distributions and reflects the deduction of broker commissions. Manager returns include trades and positions that fail Covestor's trading rules, as a result, actual client returns will differ. Covestor advisory fees are simulated and applied retroactively to present the portfolio return "net-of-fees".
  3. None of the performance information displayed on this page is based on the actual performance of any Covestor client account investing in this portfolio. The performance in a Covestor client account invested in this portfolio may differ (i.e., be lower or higher) from the Portfolio Manager’s account performance based on any trading restrictions imposed by the client (resulting in different account holdings), time of initial investment, amount of investment, frequency and size of cash flows in and out of the client account, applicable brokerage commissions, and different corporate actions. Clients investing in this portfolio may view the actual performance of their investment in this portfolio by logging into their Covestor account and reviewing their customized dashboard.
  4. All graph data is as of the end of day for the referenced period, unless otherwise specified. The investment minimum is the minimum investment required to follow a particular portfolio. The minimum amount is determined by Covestor, based on the characteristics of the underlying portfolio. It should not be considered as specific investment advice for your investment situation.
  5. The performance charts are provided for informational purposes only, and should not be used as the basis for making an investment decision. We rely on mathematical formulas, computer programs, and pricing information from third-party vendors to provide these returns. Neither Covestor nor any of its data or content providers shall be liable for any errors in this information or any actions taken by you in reliance upon this information.
  6. Benchmark returns displayed have been calculated by Covestor using daily benchmark prices and do not include dividend income. More information here. For certain portfolios Covestor uses an index as a benchmark, while for others it uses an investable exchange traded fund (ETF) as a benchmark. Index returns do not reflect the deduction of any management fees, transaction costs or expenses. Individuals cannot invest directly in an index. Investable ETF returns reflect the deduction of (i.e., are net of) management fees, transaction costs and expenses.
  7. All Portfolio Manager information including personal data, profiles, strategies, monthly investment reports, and historical results outside of Covestor has been provided by the Portfolio Manager. Covestor makes no representation or warranty of its accuracy, completeness or relevance and it does not represent the opinions of Covestor. Transaction history of Portfolio Managers is available upon request. Portfolio classifications are provided by Covestor, and are intended to serve as a general guide.
  8. Not all transactions listed will appear in accounts due to Covestor's trading rules and individual client constraints. Eligibility of these securities is monitored periodically, and may change over time. Actual client investment holdings may vary.